A unit of Singapore state investment company Temasek Holdings plans to buy 26.1% of Indonesian retailer PT Matahari Putra Prima, highlighting Indonesia's growing attractiveness to institutional investors due to its increasingly affluent middle class.
The unit, Anderson Investments, will offer up to 2.9 trillion rupiah ($300 million) to buy public shares in Matahari Putra, majority stakeholder PT Multipolar said in a statement Tuesday. Multipolar added that it will maintain its 50.2% stake in the retailer. A Temasek spokesman confirmed the investment plan...............................................Full Article: Source